In a decision last week, Judge Sweet ruled that the self-regulatory organization (“SRO”) immunity applied to bar some of the claims brought against the NASDAQ stock exchange in the consolidated In re Facebook IPO litigation.  Judge Sweet’s opinion in essence divided the claims between those that preceded the IPO and those that occurred during and after the IPO, holding the SRO immunity did not shield the NASDAQ for pre-IPO-based claims.
Continue Reading Judge Sweet Dismisses Some, but Not All, Claims Against NASDAQ in Facebook IPO Suit